Firms in a monopolistically competitive market structure maximize their profit by producing an output where:
a. price equals average total cost.
b. marginal cost equals average total cost.
c. marginal cost equals price.
d. marginal revenue equals marginal cost.
d
Economics
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By the late 1950s, dollars held by foreign central banks exceeded the official dollar value of U.S. gold reserves
Indicate whether the statement is true or false
Economics
Under a barter system
A) each good has many prices. B) each good has a single price. C) no prices for goods exist. D) prices for goods are very stable.
Economics